Vietnam’s
Phu Cuong Corporation will join hands with Ireland’s Mainstream Renewable Power
Ltd. and the U.S. giant General Electric to set up an 800-megawatt wind farm in
the southern province of Soc Trang. The project will need $2 billion.

In the
second project, Vietnam’s Pacific Corporation will cooperate with MainstreamRenewable Power Ltd. to build another 140-MW wind farm in
the central province of Binh Thuan, which is worth $200 million for
construction.

The same day
Vietnam and Ireland also signed other agreements on poverty reduction,
education and training, information and communications.

Vietnam has
recently revised down the target for electricity generation by coal-fired
thermal power plants from 56.4 percent of the total electricity generation to
53.2 percent by 2030.

The country
is more focused on renewable energy, particularly solar and wind energy,
targeting a renewable energy ratio of 10.7 percent by 2030.

But that
will require a lot of investment in the coming years.Wind and solar powercapacityis estimated to account for only 0.8
percent and 0.5 percent of total electricity generation respectively by 2020.

With over
3,000 km of coastline and numerous islands, Vietnam has morewind power potentialthan
most of other Southeast Asian nations with a total estimated capacity of 24,000
MW, the Vietnam News Agency has reported.

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